Huione Group's Banking Services Collapse Amid Scam Crackdown
Update: 2025-12-02
Description
Huione Groups banking services, Huione Pay, abruptly closed, leaving customers stranded as the U.S. and U.K. cut ties, disrupting Cambodias $19 billion scam economy. Huione, deemed critical infrastructure for scam networks, facilitated billions in transactions, including those linked to North Koreas Lazarus Group and the WazirX hack. Despite regulatory pressure and license revocation, Huione launched a stablecoin and alternative guarantee services, showcasing the complex fight against digital financial crime.
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